Blog Posts

Give me a break! Expanded tax and duty breaks for U.S. importers

 
The Trade Facilitation and Trade Enforcement Act (TFTEA) was signed into law in February of this year and brought in regulatory changes in several areas, including tax and duty exemptions at the U.S. border.
 
Included in the TFTEA is an amendment to Section 321 of the Tariff Act which provides that eligible entries – those valued below a certain dollar amount – can be imported free of taxes and duties. Up until March of this year, the threshold for such an exemption – the de minimis value – was $200USD. Under the recent amendment, this value has been increased to $800USD.
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Chapter 4: Importing into the U.S. – Know Your Responsibilities

Customs brokers work with companies that import and export goods across international borders to help ease the process and reduce the possible risks associated with cross-border trade.
 
Under the Mod Act, importers are responsible for demonstrating compliance with U.S. Customs and Border Protection (CBP) requirements – even those who engage the services of a customs broker or other consultant. The Mod Act puts the burden squarely on the importer to prove they have complied with CBP requirements.
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Chapter 3: Importing into the U.S. – Tools are available to save you time and money

 
There are several programs available to importers that can facilitate the importation process and save money. Although it may seem daunting if you haven’t tapped into these programs before, it is well worth making use of them as the cost savings can be substantial.
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How to be a *Gold-Star Importer*

 
Mitigate border delays, penalties, and sleepless nights by being a fully informed, law-abiding citizen.
 
Cross-border shipping is an important part of your business and it takes time and attention to ensure you get it right. Fulfilling your customs responsibilities will save you time and money in the long term.
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Duty Drawbacks: Don’t miss out on a chance to save money!

 
Do you frequently import goods, pay the duties and then re-export those goods, either as-is or incorporated into a finished product?
 
Even if you’ve done this hundreds of times, you may not know that duties can usually be recovered on those items. Filing a duty drawback can have significant benefits – reducing your costs and enabling you to price your goods more competitively.
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